BlockBeats News, September 2nd, according to Bloomberg, crypto entrepreneur David Bailey, who had helped Trump pivot to supporting Bitcoin, is now attempting to rebuild his business after his Bitcoin treasury company Nakamoto's stock price plummeted by about 99% from its peak. Previously, Bailey had raised around $760 million for the publicly traded company to establish a Bitcoin reserve.

In May 2025, Nakamoto announced its entry into the public market through a merger, after which its stock price has cumulatively dropped by about 99% from its high. This trend is also part of a larger pullback in digital asset treasury companies, where the premium investors previously paid to indirectly hold Bitcoin through a publicly traded company has largely evaporated.

When Bailey's hedge fund had previously invested in a similar strategy, it had achieved a 640% return. He stated that he still occasionally keeps in touch with the White House and is trying to prove that Nakamoto still holds a sustainable underlying business even after a significant stock price drop.